Financial Discipline Through Sachin Tendulkar’s Principles
The GOD retires on Wankhede stadium in Mumbai. For some of the ardent followers of Sachin Ramesh Tendulkar, it is as good as end of cricket. But is it really the case? India will play the next match soon. The game will move on. But for time being it is the GOD that rules the minds of the Indian cricket fans. While the celebrations go on, we should spare some time to learn some important lessons from the two and half decade long Sachin’s career on the cricket ground. For all those people who follow cricket and for the rest, who do not understand the head or tail of it, his ability to remain on the ground without any brake due to lack of fitness, is enough to explain why he is a legend in the world of sports. While fitness is a big issue with most sportsmen, and especially in the world of ‘excess of cricket’, Sachin remained on pitch and was never omitted from the team due to lack of fitness, to the best of my knowledge. This is the biggest lesson for all of us. It will be interesting if we decide to be financial fit. Putting our money matters in order is a good idea. Building an emergency fund, preparing a financial plan for yourself, preparing a loan repayment plan and obtaining a high CIBIL score can be a step by step approach to financial fitness. It will help you to maximize your wealth without compromising on your piece of mind. How is the idea of adding some more wealth, the way Sachin adds some extra singles to his score? But for that you need another virtue that Sachin has - discipline. We have not heard Sachin landing into any of these verbal controversies on the ground, nor we seen him landing on the wrong side of the law. Rather, at the slightest of the possibility of occurrence of such an instance, he has taken corrective steps. It makes sense to look at our financials once again. We should ask questions am I spending too much.? Am I too leveraged? Why I could not pay my entire credit card outstanding last month? If we can get the answers to these questions, then we can think of corrective actions be it a debt counselling session or a debt restructuring plan, to ensure that we improve our financial health. We need to inculcate the discipline of paying our loans on time. We should avoid paying penalties due to late payments. This will gradually improve your credit score, popularly known as CIBIL score, in the medium term. Like most other great batsmen, Sachin has been quoted many times, saying that he plays each ball equally seriously, no matter how many runs he has scored that day. When we initiate any monetary transaction, we too should be diligent every time. Avoid reckless spending this festive season. Post diwali sale is a slippery area, be very careful spending now. When you swipe your credit card, be doubly sure if you can repay your entire outstanding. If you cannot repay your dues on time, it effectively pulls down your CIBIL score. While Sachin retires from the cricket ground, all his fans would say, ye dil mange more, they want more of Sachin. But it is not possible. The only thing we can do is to wish him the best for his life ahead, cherish the fond memories of his long innings and learn good things from him that will make our life better.
Source: Rajiv Raj (money control.com)
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